Europe
Sasol finds alternate oil supply amid Iran sanctions
South Africa's Sasol said Thursday it has found suppliers to replace the crude oil it normally sources from Iran as the West imposes trade restrictions and sanctions on the Islamic Republic. Sasol relies on Iranian oil imports for about 20% of its crude requirement, or 12,000 bpd, at its Natref refinery.
Refining deals up sharply in 2011 amid shedding of global assets
Refiners realigned their corporate strategies in 2011, with many shedding refining assets and others choosing to exit the sector altogether, according to a new report.
Chemtura raises capacity in Italy for polyurethane prepolymers
Chemtura is increasing its production capacity for its polyurethane prepolymers at the company’s Latina Scalo facility in Italy. The prepolymers are used in a multitude of industrial applications and markets where high wear resistance, toughness and durability are essential requirements.
US to exempt EU, Japan on Iran oil sanctions
The US has decided to grant exemptions to Japan and 10 European Union (EU) countries under a new set of Iran oil sanctions, a key lawmaker said. Aimed at shutting down Iran's nuclear program, the sanctions target financial institutions that do business with Iran's Central Bank, a main conduit for Iran's oil sales.
Shaw, Total form global alliance on polystyrene
The Shaw Group said Monday that it formed an exclusive alliance with Total Petrochemicals to jointly market and license Total’s polystyrene technology on a worldwide basis. Shaw has had a similar alliance with Total Petrochemicals for styrene monomer, the primary feedstock for polystyrene, for 15 years.
Eni sees 2012–2015 output growth above 3% per year on higher capex
Eni SpA, Italy's biggest oil and natural gas company by volume, said Thursday that its new, four-year, EUR59.6 billion investment plan estimates average annual hydrocarbon production growth of more than 3% through 2015.
Essar commissions diesel hydrotreater unit in India
Essar Energy plc, the India-focused integrated energy company, announced that Essar Oil Ltd. has successfully commissioned diesel hydrotreater unit 1 (DHDT-1) as part of the Phase I expansion at its Vadinar refinery in India.
Total signs on for new refining project in China
Total signed a comprehensive memorandum of understanding (MOU) with Kuwait Petroleum International (KPI) and Petrochemicals Industries Co. (PIC) for the planned development of a 300,000 bpd full-conversion refinery integrated with petrochemicals complex with Sinopec.
EIA raises oil price forecast for 2012
In its March "Short-Term Energy Report," the DOE/EIA raised its oil price forecast for 2012 to $106/bbl, up $5/bbl from the previous forecast amid concerns over geopolitical tensions in the Middle East, growth in world demand and supply constraints in non-OPEC countries.
OPEC pins high oil prices on speculators, IEA warns of supply woes
Leaders of some of the world's largest oil producing nations Wednesday pinned current high oil prices primarily on market speculators, just as consuming nations warned that even present increased output levels are being more than offset by numerous supply problems.
- UPM unlocks new bio-based markets as Leuna biorefinery produces its first commercial product 12/19
- Stamicarbon awarded technology licensing contract for new urea plant in Eastern China 12/19
- Ford takes $19.5-B writedown on EV business 12/19
- Babcock & Wilcox awarded $40-MM contract for advanced wet gas scrubbing technology at Canadian petroleum refinery 12/19
- Aarti Industries secures methanol and toluene feedstock supply through multiple long-term contracts 12/19
- bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit 12/19
